Asset Allocation & Management Company LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 81.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,250 shares of the iPhone maker’s stock after acquiring an additional 3,250 shares during the period. Asset Allocation & Management Company LLC’s holdings in Apple were worth $1,266,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Apple during the fourth quarter valued at $25,228,507,000. State Street Corp lifted its holdings in Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares during the period. Miracle Mile Advisors LLC increased its stake in shares of Apple by 1,841.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 8,755,560 shares of the iPhone maker’s stock valued at $78,548,000 after buying an additional 8,304,604 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Apple during the fourth quarter worth about $1,461,735,000. Finally, Capital Research Global Investors boosted its holdings in Apple by 38.1% in the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after acquiring an additional 8,154,171 shares during the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the stock. Fundamental Research dropped their price target on shares of Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. Loop Capital cut their price target on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. StockNews.com started coverage on Apple in a research report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research report on Monday, June 20th. Finally, Barclays set a $167.00 target price on Apple in a report on Tuesday, June 7th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.55.
In other Apple news, COO Jeffrey E. Williams sold 105,901 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $177.75, for a total transaction of $18,823,902.75. Following the sale, the chief operating officer now directly owns 489,662 shares of the company’s stock, valued at $87,037,420.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 29,198 shares of Apple stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $177.77, for a total transaction of $5,190,528.46. Following the completion of the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $24,228,273.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,099 shares of company stock valued at $29,376,711. 0.06% of the stock is currently owned by company insiders.
AAPL stock opened at $141.66 on Monday. The business has a 50 day moving average of $148.09 and a 200-day moving average of $162.18. The firm has a market cap of $2.29 trillion, a PE ratio of 23.00, a P/E/G ratio of 1.86 and a beta of 1.20. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. The company had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 EPS. On average, research analysts expect that Apple Inc. will post 6.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were given a dividend of $0.23 per share. This is an increase from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, May 6th. Apple’s dividend payout ratio is currently 14.94%.
Apple announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Apple Company Profile (Get Rating)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
Further Reading
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